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What is "Funds Control"?Construction funds control is the process of monitoring disbursements of a predetermined and secured dollar amount of a construction project for a lender (bank) or surety/bonding company. The predetermined amount may represent an entire construction project budget or a portion of it. The primary objective of funds control is to help ensure that the construction project meet all its financial obligations. A construction funds control company is typically an independent third party entity contracted by a lender or surety company to work with a general contractor or subcontractor to monitor and disburse project funds. The specific role of the funds control company is to ensure that proper payments are made, invoices and lien releases are collected and the budget is monitored during the course of the project. In essence the funds control company takes over the role of the project's accounts payable function to ensure that all other sub-contractors and suppliers are paid per their contract and in a timely manner.
Our MissionOur mission is to provide first-class professional funds control services to construction lending and surety companies. Our goal is to assist our clients in achieving excellence and success in their construction lending and surety risk management projects. Utilizing the expertise of a seasoned management team along with best business practices, CFCS provides unequaled construction funds control services.
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